Italian judge jails two in Nigerian oil graft case [Reuters]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
Italian judge jails two in Nigerian oil graft case | Reuters 3 Min Read MILAN (Reuters) - An Italian judge sentenced two defendants in a Nigerian corruption case to jail on Thursday in the first ruling on one of the oil industry’s biggest graft scandals. Nigerian Emeka Obi and Italian Gianluca Di Nardo were found guilty of international corruption and each given four-year jail sentences, three sources with knowledge of the ruling said. Lawyers for Obi and Di Nardo declined to comment. The long-running case revolves around the 2011 purchase by Italian oil company Eni and Anglo-Dutch peer Royal Dutch Shell of Nigeria’s OPL 245 offshore oilfield for about $1.3 billion. Milan prosecutors allege bribes totaling around $1.1 billion were paid to win the license to explore the field which, because of disputes, has never entered into production. The main trial - which besides Eni and Shell also involves Eni CEO Claudio Descalzi and four ex-Shell managers including former Shell Foundation Chair
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